San Gold Corporation (TSX:SGR,OTCQX:SGRCF) announced updated gold reserve and resource estimates from its Manitoba-based Rice Lake project.
As quoted in the press release:
- 93% increase in inferred mineral resources to 3.5 million ounces of gold.
- Drilled approximately 350,000 metres in 925 holes in 2011.
San Gold’s President and CEO, George Pirie said:
In addition to greatly improving the understanding of the region’s geologic structure, this drilling continues to prove invaluable for developing and refining our current mine plans.